Gus Faucher

1 week ago | post-gazette.com | Tim Grant |Gus Faucher

Downtown-based PNC Financial Services Group reported a strong first quarter, but management cautioned that uncertainty around tariffs and trade wars threaten to harm the economy and consumers. "PNC had a strong start to the year,” Bill Demchak, chairman and CEO said Tuesday during the bank’s earnings call. “We grew customers and commercial loans, expanded our net interest margin, increased capital levels and maintained solid credit quality metrics.

Dec 15, 2024 | post-gazette.com | Gus Faucher

This holiday season is shaping up to be another good one for retailers. With a solid job market, good wage growth and slowing inflation, consumers have money to spend, and PNC expects holiday sales to increase about 5% from 2023. With goods prices down slightly over the past year, the increase will come from higher volumes. Although high inflation has been a problem for U.S. households over the past few years, they are generally in solid shape. Most importantly, the labor market is very good.

Nov 24, 2024 | msn.com | Gus Faucher

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Nov 24, 2024 | post-gazette.com | Gus Faucher

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Oct 20, 2024 | post-gazette.com | Gus Faucher

In September, the U.S. Census Bureau released updated data on household income and poverty in the U.S. and Pennsylvania through 2023. As we move further away from the pandemic, the picture is becoming a little clearer. Even with the highest unemployment rate in decades, households were better off financially in 2020 than in 2019 thanks to federal government aid. But with high inflation and the end of pandemic stimulus programs, households are now roughly back to where they were in 2019.